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Mandeville Weekly News

Jamaica Seeking to Woo More American Investors

Prime Minister, the Most Hon. Andrew Holness, says the Government is seeking to attract increased investments from the United States (US) as it looks to achieve higher levels of economic growth, informing that work is being done to make Jamaica’s business environment more attractive for US business interests with reforms being undertaken to improve public sector efficiency and to ensure that local laws are more aligned to the needs of American investors.

Mr. Holness noted that Jamaica is an attractive location for business, situated within the international shipping lanes, which makes the island ideal for investments in logistics and shipping, adding that the island’s close proximity to the US presents the opportunity for the country to provide numerous services that support American industry and businesses.The Prime Minister also cited opportunities in tourism and mining, which he said the administration would seek to exploit and maximize.
Mr. Holness hailed China as an important development partner through investments in critical projects that support the Government’s economic growth plan. “They have come on board, they have built a magnificent highway and will be investing in more infrastructures, more highways and potentially, a port,” he noted.

Mr. Holness emphasized that the Government has been very clear in advising the Chinese counterparts that the administration’s mandate is to achieve inclusive growth which benefits Jamaicans. “So while we acknowledge that there will have to be some importation of Chinese labour, the majority of the work can and will be done by Jamaicans,” he pointed out.
Mr. Holness said the Government is making progress in undertaking and instituting other key measures aimed at facilitating increased growth. These, he said, include: reducing debt and enhancing prudent fiscal management.